x

Shades of Ronaldo: Agnelli heir swoops for soccer star’s sunglasses

Luxury eye wear group Italia Independent is hoping to borrow some of Cristiano Ronaldo’s star appeal.

On Wednesday it announced a five-year licensing agreement with the Portuguese forward as it strives to boost revenues after heavy losses last year.

Under the deal, Ronaldo is to design a sun glass collection under his CR7 brand, known for luxury underwear.

The market received the news enthusiastically. Shares were automatically suspended on Milan’s AIM platform for smaller companies on Wednesday after excessive pre-session trading.

Founded by Lapo Elkann, grandson of the late Fiat patriarch Gianni Agnelli, Italia Independent in September reported a 4.4 million euros ($4.9 million) core operating loss in the first half of 2019.

In response, it launched a four-year turnaround plan aiming to more than double its revenue to 42 million euros by 2023.

Elkann, famed for his flamboyant fashion sense, said in a statement the licensing deal had “extraordinary importance” for the company’s growth plans.

Ronaldo’s playing prowess as well as his established marketing appeal helped revenue at his side Juventus, also controlled by the Agnelli family, to grow by 16.5% last year, according to data from consultancy firm Deloitte. (Reuters/NAN)

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

NATIONAL POLICE DAY: SOKOTO  POLICE COMMAND  CELEBRATE DAY

By Muhammad Ibrahim, Sokoto In continuation to mark National Police...

Tinubu political adviser, Hakeem Baba Ahmed resigns from.office 

By Achadu Gabriel, KadunaDr. Hakeem Baba-Ahmed, the political adviser...

PLATEAU APC LEADER SENATOR LALONG HOLDS MORE ENGAGEMENTS WITH STAKEHOLDERS 

Senator representing Plateau South Senatorial District Simon Bako Lalong...

Bokkos killings – Death toll hits 52

As  Plateau govt calls for calm says ,few  arrest...

Corruption stalls Nigeria’s Guinness World record boxing championship fight – Bash Ali writes Tinubu

*Say's 132 countries expected in Nigeria By Achadu Gabriel, Kaduna Nigerian's...

Kaduna: Uba Sani has revamps health sector- Commissioner  

*As NPSC ranked Kaduna State By Achadu Gabriel, Kaduna Governor Uba...

North-Central APC adopts SGF Akume as leader, targets 6 million votes for Tinubu in 2027

By Isreal  Adams Jos The North-Central All Progressives Congress, APC,...

CSOs Inaugurate New Committee to Enhance Budget Accountability and Combat Corruption

• …CBIAMEC to Focus on Oversight, Transparency, and Effective...
spot_img

Related Articles

Popular Categories

spot_imgspot_img